WesBanco (NASDAQ:WSBC) Given New $40.00 Price Target at Keefe, Bruyette & Woods

WesBanco (NASDAQ:WSBC) had its price objective reduced by equities researchers at Keefe, Bruyette & Woods from $43.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 32.71% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James cut their price target on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. DA Davidson lifted their price target on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada lowered their price target on WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. Finally, Piper Sandler assumed coverage on WesBanco in a research note on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price objective for the company. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, WesBanco presently has an average rating of “Moderate Buy” and an average price target of $38.71.

WesBanco Trading Down 0.8 %

Shares of WesBanco stock opened at $30.14 on Monday. The company’s fifty day moving average is $30.29 and its two-hundred day moving average is $32.74. WesBanco has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.02 billion, a P/E ratio of 13.46 and a beta of 0.81.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. The firm had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. During the same period last year, the company earned $0.56 earnings per share. Analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

Institutional Investors Weigh In On WesBanco

A number of institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of WesBanco during the first quarter worth $34,000. Creative Financial Designs Inc. ADV bought a new stake in shares of WesBanco during the 1st quarter valued at about $48,000. Sterling Capital Management LLC raised its stake in WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,614 shares during the period. Principal Securities Inc. lifted its holdings in WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 603 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new position in WesBanco in the fourth quarter valued at approximately $78,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.